SoFi Invest vs Firstrade Comparison: Fees, Features, and More (2026)

SoFi Invest and Firstrade are two leading discount brokerages offering commission-free stock and ETF trading. Use this head-to-head comparison table to evaluate fees, features, trading tools, and account options to help you decide which broker is right for you in 2026.

Head-to-Head Comparison: SoFi Invest vs Firstrade (2026)
Feature SoFi Invest Firstrade
Website https://www.sofi.com/invest/ https://www.firstrade.com/
Broker Type Discount (self-directed online brokerage + robo-advisor) Discount (self-directed online brokerage)
Trading: Stock & ETF? Yes Yes
ETF & Stock commission $0 commissions $0 online ($19.95 broker-assisted)
Fractional Shares? Yes ($5 min on select stocks/ETFs) Yes (most U.S. stocks/ETFs; $5 min)
Percent Allocations? No No
Crypto Trading? Yes. SoFi Crypto offers 28 cryptocurrencies (as of May 2026); requires SoFi Checking & Savings. No
Crypto Fees Tiered 1.90%/1.50%/1.25%/0.90% of trade value by monthly volume (<$1k/$1-5k/$5-10k/$10k+); possible ≤0.10% spread. N/A
Options Trading? Yes. Options trading available (long calls/puts, covered calls, cash-secured puts; 0DTE and IRAs). Yes
Options Fee $0 commissions and $0 contract fees. Regulatory fees apply (e.g., ORF $0.02, OCC $0.025 per contract). $0 commission and $0/contract; plus pass-through ORF (~$0.02/contract from Jul 2026) and SEC sell fees
Bond Trading Available? No. Individual bonds not offered; exposure via bond ETFs and mutual funds only. Yes (web only; net yield basis/markup)
Receives payment for order flow (PFOF)? Yes. Receives payment-for-order-flow revenue share via Apex Clearing. Yes
Interface: Web trading? Yes. Full trading on SoFi mobile app (iOS/Android) and sofi.com website. Yes
Desktop trading? No No
API Trading? No No
Mutual Funds: Offered? Yes Yes
Total Mutual Funds 6,800+ 11,000+
NTF Mutual Funds 6,800 11,000+
Non-NTF Fund Fee 0.2% of purchase (max $20); 2% for interval/tender funds $0 online; $19.95 broker-assisted (no-load)
Early Redemption Fee? Yes (no SoFi short-term fee) No ($19.95 if held <90 days)
Redemption Hold (Days) Fund-specific (CDSC varies by fund); no SoFi-imposed hold. 90 days
Early Redemption Fee Fund-specific CDSC (varies); SoFi charges none (purchase tx fee 0.2% max $20). $19.95
Accounts: Margin Accounts? Yes (Self-Directed; apply, $2,000 min). Yes (approval; $2,000 min assets; not IRAs/custodial/ESA)
IRAs Offered? Yes: Traditional, Roth, and SEP IRAs. Yes (Traditional, Roth, SEP, SIMPLE, Rollover)
HSAs Offered? No No
Money Market Sweep? Yes (optional FDIC bank sweep via Apex). Yes (FDIC sweep via Apex; 0.15%; not margin/SIMPLE IRA/ESA)
CDs Offered? No Yes (primary $30; secondary net yield)
Robo-Advisor: Offered Yes No
Robo-Advisor Service SoFi Automated Investing (Robo Investing) N/A
Robo-Advisor Fees 0.25% annual wrap/advisory fee plus fund expenses; $50 min. N/A
Basics: Headquarters San Francisco, CA Flushing, NY
Year Founded 2011 1985
Clearing Firm Apex Clearing Corporation Apex Clearing Corporation
Local Branches? No Yes (Flushing, NY HQ office, Mon-Fri 10am-4pm ET); no nationwide network
New Account Minimum $0 $0

Once you’ve chosen a broker, find high-performing, investable model portfolios at RecipeInvesting.com


Picked a Broker? Now Build Your Perfect Portfolio

Find high-performing, investable model portfolios (Tactical, Strategic, and Managed) at RecipeInvesting.com.

Get FREE Access
Recipe Investing Logo

Compare SoFi Invest to All Brokers